Selling a House After Loss of a Loved One

Losing a loved one is difficult enough without the stress of trying to sell property left as part of the estate. Even though inheriting a property is a well-intentioned gift from the person who has passed away, it can cause a lot of stress and become a tiring and costly process. The inherited house may require a lot of work, most likely a house clearance will be required, and if the ultimate plan is to sell it on, then there may be costs upfront which cannot be recouped for a long time after the sale. Serene Homes can remove the stress of selling inherited property in any condition, and can have everything tied up and completed on the purchase within as little as 7 days.

grandparent hugs grandchildren in front of house

What Happens to Property When a Loved One Dies?

When a loved one passes away, all of their assets are entered into their estate. This means that everything the person owned can be passed on to their family or whoever is nominated in their will. A property is usually the largest asset in an estate, so it is very important that everything is managed professionally and correctly. The probate process usually takes 1 to 3 months depending on the complexity of the estate. It can then take longer to close accounts, sell property and pay taxes.

What is probate?

A probate is a legal right to deal with someone’s property, money, and possessions (their estate) when they die. No financial plans or the listing of a property on the market should be made without the completion of a probate.

Once the probate is complete, it is up to the person who has inherited the house to decide what to do. There is the option to add the property to the market through an estate agent, but the time it takes to sell a house can be very long and if essential work is required on the property, this will need to be completed before the property can be sold on the open market. In some cases, inherited houses have been left empty for some time or have fallen into disrepair. It’s important to get quotes and consider just how much repairs might cost and how long it may be before that money can be repaid from the sale of the property.

Selling a Property Once Probate is Complete

The standard route of selling a house on the open market through an estate agent is an option, but Serene Homes offers an alternative. As a company offering a private sale that pays 100% cash for every property bought, the amount of time and stress involved in selling a property can be significantly reduced. There is no requirement for an estate agent, no need for viewings, no fees involved, and no delays with mortgage lending. The property doesn’t need to be added to the open market because Serene Homes buys the property direct, without the requirement for any middlemen.

Serene Homes also purchases every type of property in any condition in all locations throughout the UK. This relieves the burden on the person who has inherited property as they do not need to lay out any extra cash in order to undertake works. Even if a property is in very poor condition, Serene Homes will make an offer and complete on the purchase in as little as 7 days.

Serene Homes offers up to 90% of the open market value of any house, whilst covering the cost of the valuation undertaken as well as the legal fees involved. As there is no estate agent involved, a further cost saving is made. The three simple steps of first booking a survey, second undertaking the legal work, and thirdly completing on the purchase comes with a 100% guarantee.

Another area where money can be saved is time. As Serene Homes work so quickly and can purchase a property in as little as 7 days, this can allow those who have inherited a property, to avoid ongoing utility bills and council tax. The sooner that a property is sold, the fewer bills will need to be paid. If a mortgage is also outstanding on a property, the total ongoing cost of mortgage payments plus bills can soon add up quickly.

The fastest way to sell a house is to a cash buying company such as Serene Homes, which offers a solution to help people avoid more stress following a bereavement. From the first telephone consultation with Serene Homes right through to when the sale of the property is complete and the property seller receives their money, the total timeframe can be as little as a week.

More information on a fast house sale can be found here

Do I Have to Pay Inheritance Tax?

Whenever anyone inherits a property, it is important to seek professional advice. Tax advice is important because sometimes people are unaware of what tax they need to pay. If people make a profit from inheriting anything of value, such as property, then they may need to pay inheritance tax. An accountant or professional tax advisor will be able to help further.

How to Sell an Inherited Property Fast with Serene Homes

Serene Homes can assist by helping people protect the profit they stand to make from an inherited property, by purchasing this property within a very short timeframe. This means that extra costs can be avoided if a property were to sit vacant, especially in poor condition. The more money that is spent on mortgage costs, utility bills, council tax, and fixing problems in the property before selling, the less resulting profit there will be. Property renovations also rarely come in on budget and excessive amounts of money can be wasted.

Not only does Serene Homes help avoid costly situations, but there is also peace of mind in knowing that there is a guarantee in place. Once a final price is agreed for a property, this does not change. Serene Homes use their own private funding, so they do not need to search for a buyer. This means that there is no requirement for any viewings and all that needs to happen is for one survey to be undertaken to assess the condition and value of the property. Once the survey is complete, the price is finalised, the legal process is completed, the required sum of money is transferred to the solicitors by Serene Homes, and completion of the sale of the house takes. Very simple and totally hassle-free.

Read more on selling an inherited house or contact our team today for advice and a house valuation in under 24 hours.